Oil sinks 7% into bear market on oversupply fears

Mr Trump's tweet followed weekend reports that Saudi Arabia was considering a production cut at the December Opec meeting, on increased alarm that supply has started to outpace consumption.

As of 20:39 GMT, the Brent blend futures based on the light North Sea crude oil depreciated by 7.43 percent to $64.91 per barrel. Price is now moving through and beyond the 100 EMA and 55.00 looks a good long term place for a pause given the support that is there.

That surge in onshore output has helped overall U.S. crude production hit a record 11.6 million bpd, making the United States the world's biggest oil producer ahead of Russian Federation and Saudi Arabia.

Worldwide benchmark Brent crude oil futures were down 22c at $65.25 a barrel.

Previously, the OPEC and several oil producers outside the cartel agreed to cut oil output in an effort to stabilize global oil prices in 2016. USA crude had declined for a record 12 consecutive sessions to the lowest since November 2017.

Brent is in so-called "bear market" territory alongside U.S. crude as it has fallen by more than 20% since its peak - $86 in early October. Brent crude is trading below $70 per barrel, down from a four-year high above $86 per barrel in early October.

Trump on Monday said he hoped OPEC will not cut production, making it clear he wants oil prices to fall.

Protests held over comments made at rape trial
An Irish MP held up a pair of knickers in parliament to highlight the "routine victim blaming" of rape and sexual assault victims. Meanwhile, a series of protests are to take place tomorrow over the barrister's controversial comments.

A British man dies of rabies after holidaying in Morocco
As the disease progresses, there may be hallucinations, respiratory failure and muscle spasms that make it hard to drink. More country specific information on rabies is available through the National Travel Health Network and Centre's website.

"Next year, there is expected to be even less need for OPEC oil due to relentless growth in non-OPEC supply", the IEA said, adding that it had cut its forecast for demand for OPEC crude by 300,000 bpd to 31.3 million bpd in 2019.

He told the Reuters news agency: "It's getting to the point where it doesn't seem to be about fundamentals anymore, but a total collapse in price".

In the report, OPEC said its oil output rose further in October by 127,000 bpd to 32.90 million bpd after the June deal.

Together with Russian Federation and other non-OPEC producers, OPEC had agreed in June to boost supply after pressure from U.S. PresidentDonald Trump to lower prices, partially unwinding output cuts that began in January 2017.

Riyadh indicated on Monday it was on course to ignore the USA president's wishes at OPEC's next meeting due in December because it saw a need to reduce OPEC output by a collective one million barrels per day during 2019.

New physical activity guidelines for Americans released
In fact, only 26 percent of men, 19 percent of women and 20 percent of minors are getting the recommended amount of exercise . The new guidelines indicate that physical activity in older adults can reduce the risk of falls and injuries from falls.

Rays’ Blake Snell wins AL Cy Young award
A 25-year-old lefty, Snell had an across-the-board great season with a 21-5 record and 221 strikeouts and a 1.89 ERA . DeGrom got 29 first-place votes and 207 points from members of the Baseball Writers' Association of America .

Iran executes 'Sultan of Coins' convicted of hoarding currency
Vahid Mazloumin and another member of his currency trading network received the death penalty for "spreading corruption on earth". He was reportedly arrested in July and later tried by a special court recently set up to adjudicate suspected financial crimes.

With Butler in Sixers' mix, Fultz heading to bench
The T-Wolves have won their last two games, both without Butler, so who knows, maybe this deal will work out for them after all. I'm not the fastest guy. "Not too many things go through my mind when I'm out here between these lines".

World Cup boosted to 16 teams for 2021
World Rugby chairman Bill Beaumont said he felt the decision was worldwide recognition for the obsession for rugby in New Zealand. World Rugby chairman Bill Beaumont said it nearly felt like the tournament was "coming home" in being awarded to New Zealand.